Our first 4 Plex and Purposeful Rental Property

[Jack Calhoun]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Phoenix.

Purchase price: $290,000
Cash invested: $75,000

A mix of a 3/2 and 3 2/1's

What made you interested in investing in this type of deal?

Less risk with vacancies. Someone moves out and we still have 3 cylinders running.

How did you find this deal and how did you negotiate it?

We found our RE agent on Loopnet and he led us to this investment.

How did you finance this deal?

Personal savings.

How did you add value to the deal?

Raising rent.

What was the outcome?

We currently still own it and it is our best-producing property.

Lessons learned? Challenges?

Find a great Property Manager right away. We had a few months of hardships with the PM we inherited with the property.